Regional prosperity leads to increased meat consumption. As income in developing countries rises, there has been and will continue to be a substantial increase in world demand for commodity crops, especially for animal feed use. India and China are likely to be the key drivers of additional demand for US agricultural commodities.4 Food sufficiency (or excess) in developed nations will continue to be a major challenge.
There will be an aging Western population, relative to developing nations. This population will continue to exercise significant purchasing power. Countries will face growing demands on their medical system. Research and treatment-mitigation-prevention of chronic diseases will be ever more important. Many products will be launched in the attempt to maintain the health of this population. Massive Social Security and health care costs will become a substantial drain on national budgets, reducing resources for other sectors of the economy.
Farmers in the US and globally will continue to have broad options and make planting decisions based on the value of the products produced with their production systems on their farms. The cost of production coupled with commodity prices will drive farmer decisions on crops and seed varieties.